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    pretty mumma
    Home devalued by surveyor and now lost mortgage!
    • #1
    • 9th Sep 09, 8:17 AM
    Home devalued by surveyor and now lost mortgage! 9th Sep 09 at 8:17 AM
    I wonder if anyone can help us.

    We recently applied for a remortgage with First Direct. Everything was going really well and the only thing left to complete was the Surveyors visit.

    We received a letter from FD asking us to contact them. We called and was told that the valuation was too low for the mortgage we wanted.

    Basically, we had our house valued by Estate Agents, Zoopla, and checked on Rightmove. They all said our house value was 200,000.

    FD's "independant" surveyor told them that our house value was 175,000. So now we cannot get our house remortgaged.

    Does anyone know what we can do about this? I know from the news that banks are telling surveyors to devalue by 10% but to add insult to injury he took 12.5% off.

    Basically, we are stuffed because of this and really dont know what to do next.

    Please help!!
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